UAE says OPEC, OPEC+ exit was sovereign strategic decision, not political move

Energy minister says exit rooted in long-term economic vision, evolving energy capabilities

The United Arab Emirates' decision to withdraw from OPEC. OPEC+ was a sovereign and strategic choice based on a comprehensive assessment of its production policy and future capabilities, the UAE energy minister, Suhail Al Mazrouei, said on Saturday in a post on X.

Mazrouei added that the move was not politically motivated and did not reflect divisions with partners.

The UAE announced late April that it wasquitting OPECon May 1. dealing a blow to the oil producers' group as an unprecedented energy crisis caused by theIran warexposed discord among Gulf nations.

"It is not driven by political considerations, nor does it reflect any division between the UAE. its partners", Mazrouei added.

The UAE’s decision to exit OPEC. OPEC+ is a sovereign strategic choice rooted in its long-term economic vision, evolving energy capabilities, and enduring commitment to global energy security.This decision follows a comprehensive assessment of national production policy and…

Read:OPEC exit: Why the UAE is leaving and what it means?

The exit of the UAE - one of the group's biggest producers - weakens OPEC's control over global oil supplies. widens a rift between the UAE and its neighbour, Saudi Arabia, effectively the leader of the Organisation of the Petroleum Exporting Countries.

The UAE's decision to withdraw from OPEC. OPEC+ gives Abu Dhabi greater control over its oil production policy and could increase pressure on the producer alliance over time.

Comments are moderated and generally will be posted if they are on-topic and not abusive.

For more information, please see ourComments FAQ